Exhibit 99.1
authID Reports Financial and Operating
Results for the Third Quarter 2025
DENVER, Nov. 12, 2025 (GLOBE NEWSWIRE) -- authID® (Nasdaq:
AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions,
today reported financial and operating results for the third quarter ended September 30, 2025.
Third Quarter 2025 vs. Third Quarter 2024
Financial Summary
| ● | Gross revenue for the quarter was $0.6 million, compared to $0.2 million
a year ago. Net revenue for the quarter, after accounting for one-time concessions, was negative $(0.1) million, compared with $0.2 million
a year ago |
| ● | Operating expenses were $5.1 million, compared to $3.8 million a year ago. |
| ● | Net loss was $5.2 million, or $0.38 per share, compared to a loss of $3.4
million, or $0.31 per share a year ago. |
| ● | Adjusted EBITDA Loss of $4.1 million (non-GAAP measure as defined below),
compared with $2.9 million a year ago. |
| ● | Gross bARR (Booked Annual Recurring Revenue) of $0.2 million (non-GAAP measure
as defined below), compared with $1.2 million a year ago. |
“2025 has been a transformational year
for authID, and we continued to make strong progress in the third quarter,” said Rhon Daguro, authID’s Chief Executive Officer.
“While we’ve taken deliberate steps to focus our pipeline on large enterprise accounts and navigate short-term revenue impacts,
our growing momentum with some of the world’s most respected enterprises and technology partners underscores the strength of our
platform and strategy. Over the past year, we’ve evolved from a promising technology concept into a trusted partner for global leaders
in retail, finance, and identity security. The validation we’re seeing from companies like NESIC, Prove, MajorKey, and a top-tier
global retailer confirms that authID’s biometric authentication and Agentic AI security technologies are setting new standards for
accountability and trust.”
Recent Business and Operational Highlights
| ● | Signed a full
production agreement with a top 20 global retailer based in Europe, for authID’s solution to secure its identity verification
and password reset system, initially for its back office workforce, with a view to expansion into their retail stores worldwide. This
followed a successful live production trial of our solution. By being adopted by one of the world’s largest retailers, authID is
proving that enterprises can effectively protect their workforce with authID’s cutting-edge biometric technology that puts privacy
first. This deployment represents meaningful validation that authID’s products meet enterprise customers’ demands for state-of-the-art
digital identity. |
| ● | Launched
Identity Exchange or IDXTM, one of the biggest advances in the identity industry,
with NESIC, a subsidiary of NEC Corporation, a leader in integrated IT and network solutions
for digital transformation. IDX provides enterprise scalability and identity assurance for
distributed workforces and supply chain, and biometrically secures humans, robots, and AI
Agents. The lack of accountability and trust in the use of Agentic AI technology, is a huge
concern for Enterprise CEOs that currently limits its full scale use in their companies.
Without the proper governance and controls in place, companies risk massive operational impacts
and financial liabilities. By binding the human identity to the AI Agent, IDX provides the
needed accountability to allow Agentic AI solutions to operate in Enterprise networks with
trust and security. This launch dramatically increases the Company’s total addressable
market in the identity management and the Agentic AI industry. |
| ● | Signed an agreement for the first phase of a
multi-phase strategy to integrate authID’s identity verification and biometric authentication into NESIC’s Symphonict Trust
platform, providing a means to onboard both the enterprise workforce and consumers in the Japanese market. |
| ● | Signed
an agreement with MajorKey Technologies, a premier
identity security company and certified Microsoft Entra Suite services partner, to bring authID’s innovative Proof technology to
Microsoft customers worldwide. MajorKey just announced IDProof+ developed in collaboration with authID. |
| ● | Entered into an agreement in
October 2025 with a digital infrastructure platform powering financial institutions to modernize and compete in today’s digital-first
banking landscape. The fintech will integrate authID’s ProofTM
and PrivacyKeyTM
technologies into its universal onboarding and customer-management
platform, extending secure, frictionless identity verification and reauthentication to more than 100 banks with assets ranging from $10
billion to $150 billion. The first bank is on target to go live this year. |
| ● | Signed an agreement with The Pipeline Group,
a fast growing lead generation company that will use authID to onboard remote workers, monitor worker activity, and authenticate remote
workers into their core systems. This represents an entry point for authID solutions into the growing lead generation market. |
| ● | Signed an agreement with an international bank
for identity onboarding and identity verification and authentication. |
Financial Results for the Third Quarter
and Nine Months Ended September 30, 2025
Gross revenue for the three months ended September
30, 2025 was $0.6 million, compared with $0.2 million a year ago. Net revenue, which reflects estimated concessions in the third quarter
totaling $0.7 million, was negative $(0.1) million, compared with $0.2 million a year ago. Total net revenue for the nine months ended
September 30, 2025 was $1.6 million, compared to $0.7 million in the year-ago period. Our gross and net revenue were impacted by certain
accounting adjustments required to reflect challenges with two particular customer contracts, as further explained in the Third Quarter
financial statements filed today.
Operating expenses for the three months ended
September 30, 2025, were $5.1 million, compared to $3.8 million a year ago. Operating expenses for the nine months ended September 30,
2025 were $15.7 million, compared with $10.7 million in the year-ago period. The 2025 increase is primarily due to increased headcount
and continued investment in sales and R&D.
Net loss for the three months ended September
30, 2025 was $5.2 million, of which non-cash charges were $1.1 million, compared with a net loss of $3.4 million a year ago, of which
non-cash charges were $0.6 million. Net loss for the nine months ended September 30, 2025 was $13.9 million, of which non-cash charges
were $2.7 million, compared with a net loss of $9.7 million a year ago, of which non-cash charges were $2.2 million.
Loss per share for the three months ended
September 30, 2025 was $0.38, compared with $0.31 a year ago. Loss per share for the nine months ended September 30, 2025 was $1.11, compared
with $0.97 a year ago.
Adjusted EBITDA loss was $4.1 million for
the three months ended September 30, 2025, compared with a loss of $2.9 million a year ago. Adjusted EBITDA loss was $11.4 million for
the nine months ended September 30, 2025, compared with a loss of $7.8 million a year ago. The increase in adjusted EBITDA loss is primarily
driven by the increase in headcount investment in sales and R&D. Please refer to Table 1 for reconciliation of net loss to adjusted
EBITDA (a non-GAAP measure).
Remaining Performance Obligation (RPO) as
of September 30, 2025, was $3.6 million, of which $0.5 million is held as deferred revenue and $3.1 million is related to other non-cancellable
contracted amounts, compared to RPO of $3.8 million as of September 30, 2024. The Company expects to recognize the full RPO of $3.6 million
over the entire life of the contracts.
The gross amount of Booked Annual Recurring
Revenue or bARR, (a non-GAAP measure, as defined below), signed in the second quarter of 2025 was $0.2 million, down from $1.2 million
of gross bARR a year ago. The net amount of bARR was a negative $6.8 million, compared to $0.01 million of net bARR signed in the comparable
period in 2024. The Q3 bARR is comprised of $0.11 million in Committed Annual Recurring Revenue (cARR) and $0.08 million in estimated
Usage Above Commitments (UAC).
The net amount of bARR reflects the deduction
of the bARR of contracts previously included in reported bARR, due to certain customers experiencing delays in Production Go-Live timing,
volume ramping and challenges meeting their contractual obligations.
The amount of Annual Recurring Revenue or
ARR, (a non-GAAP measure, as defined below) as of September 30, 2025 was $1.7 million, compared to $1.0 million of ARR as of Q3 2024.
See below for further definition and explanation
of ARR and bARR, non-GAAP measures.
Conference Call
A conference call and webcast will be held
today at 5:00p.m. EDT, hosted by authID Chief Executive Officer Rhon Daguro and Chief Financial Officer Ed Sellitto to discuss the financial
results and provide a corporate update.
To participate on the live conference call, please access this registration
link and you will be provided with dial-in details. To avoid delays, participants are encouraged to dial into the conference call
15 minutes ahead of the scheduled start time. A live webcast of the call will be available at webcast registration and on the
“Events & Presentations” page of the Company’s website at investors.authid.ai. Only participants on the live conference
call will be able to ask questions.
A replay of the event and a copy of the presentation
will also be available for 90 days at authID’s
Investor Relations site.
About authID Inc.
authID® (Nasdaq: AUID) ensures
enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate,
patented, biometric identity platform. authID quickly and accurately verifies a user’s identity, eliminating any assumption of ‘who’ is
behind a1 device to prevent cybercriminals from compromising account openings or taking over accounts. Leveraging a 1-in-1-billion False
Positive Rate for the highest level of assurance, coupled with industry-leading speed and privacy-preserving technology, authID provides
the most secure digital identity experience. Our IDX platform secures the distributed workforce of employees, contractors, vendors, and
AI Agents. By creating a biometric root of trust for each user, authID stops fraud at onboarding, detects and stops deepfakes, eliminates
password risks and costs, and provides the fastest, frictionless, and most accurate user identity experience in the industry. For further
information please visit authid.ai
Investor Relations Contacts
authID
Investor Relations
[email protected]
Media Contacts
Walter Fowler
1-631-334-3864
[email protected]
Forward-Looking Statements
This Press Release includes “forward-looking
statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding
the future results of operations, growth and sales, potential contract signings, booked Annual Recurring Revenue (bARR) (and its components
cARR and UAC), Annual Recurring Revenue (ARR), cash flow, cash position and financial position, business strategy, plans and objectives
of management for future operations of both authID Inc. and its business partners, are forward-looking statements. Such forward-looking
statements are based on a number of assumptions regarding authID’s present and future business strategies, and the environment in
which authID expects to operate in the future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially
from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the Company’s
ability to attract and retain customers; successful implementation of the services to be provided under new customer contracts and their
adoption by customers’ users; the Company’s ability to compete effectively; changes in laws, regulations and practices; the
increase in international tariffs and uncertainty over international trading conditions, changes in domestic and international economic
and political conditions, the impact of the wars in Ukraine and the Middle East, inflationary pressures, changes in interest rates, and
others. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2024 filed at www.sec.gov and
other documents filed with the SEC for other risk factors which investors should consider. These forward-looking statements speak only
as to the date of this release and cannot be relied upon as a guide to future performance. authID expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release to reflect any changes
in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based.
Non-GAAP Financial Information
The Company provides certain non-GAAP financial
measures in this statement. These non-GAAP key business indicators, which include Adjusted EBITDA, bARR and ARR should not be considered
replacements for and should be read in conjunction with the GAAP financial measures.
Management believes that Adjusted EBITDA,
when viewed with our results under GAAP and the accompanying reconciliations, provides useful information about our period-over-period
results. Adjusted EBITDA is presented because management believes it provides additional information with respect to the performance of
our fundamental business activities and is also frequently used by securities analysts, investors, and other interested parties in the
evaluation of comparable companies. We also rely on Adjusted EBITDA as a primary measure to review and assess the operating performance
of our Company and our management.
Adjusted EBITDA is a non-GAAP financial measure
that represents GAAP net income (loss) adjusted to exclude (1) interest expense and debt discount and debt issuance costs amortization
expense, (2) interest income, (3) provision for income taxes, (4) depreciation and amortization, (5) stock-based compensation expense
and certain other items management believes affect the comparability of operating results.
Please see Table 1 below for a reconciliation
of Adjusted EBITDA – continuing operations to net loss – continuing operations, the most directly comparable financial measure
calculated and presented in accordance with GAAP.
TABLE 1
Reconciliation of Loss from Continuing
Operations to Adjusted EBITDA Continuing Operations.
| | |
Three Months Ended
September 30, | | |
Nine Months Ended
September 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| | |
| | |
| | |
| | |
| |
| Loss from continuing operations | |
$ | (5,173,321 | ) | |
$ | (3,364,801 | ) | |
$ | (13,897,567 | ) | |
$ | (9,683,619 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Addback: | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| Interest expense, net | |
| 1,959 | | |
| 12,712 | | |
| 14,842 | | |
| 36,219 | |
| Interest income | |
| (61,657 | ) | |
| (161,308 | ) | |
| (200,047 | ) | |
| (344,185 | ) |
| Severance cost | |
| - | | |
| - | | |
| - | | |
| 14,251 | |
| Depreciation and amortization | |
| 16,034 | | |
| 43,798 | | |
| 76,475 | | |
| 131,210 | |
| Stock compensation | |
| 1,092,982 | | |
| 595,536 | | |
| 2,625,502 | | |
| 2,044,210 | |
| Adjusted EBITDA continuing operations (Non-GAAP) | |
$ | (4,124,003 | ) | |
| (2,874,063 | ) | |
| (11,380,795 | ) | |
| (7,801,914 | ) |
Management believes that bARR and ARR, when viewed with our results under GAAP, provide useful information about the direction of future
growth trends of the Company’s revenues. We also rely on bARR as one of several primary measures to review and assess the sales
performance of our Company and our management team in connection with our executive compensation. The Company defines Booked Annual Recurring
Revenue or bARR, as the amount of annual recurring revenue represented by the estimated amounts of annual recurring revenue we believe
will be earned under contracted orders, looking out eighteen months from the date of signing of each customer contract. This estimate
is comprised of two components (1) Committed Annual Recurring Revenue (cARR), which represents the minimum amounts that customers are
contractually committed to pay each year over the life of the contract and (2) Usage Above Commitments (UAC), which represents our estimate
of the rate of annual recurring revenue arising from actual usage of our services above the contractual minimums, that we believe the
Customer will achieve after 18 months. The net amount of bARR reflects the deduction of the bARR of contracts previously included in reported
bARR, which were subject to attrition, or other downward adjustments during the quarter.
The Company defines Annual Recurring Revenue
or ARR, as the amount of recurring revenue recognized during the last three months of the relevant period as determined in accordance
with GAAP, multiplied by four.
bARR may be distinguished from ARR, as bARR
does not take specifically into account the time to implement any contract for authID’s services, nor for any ramp in adoption,
or seasonality of usage of our biometric products but is based on the assumption that 18 months after signing these matters will have
been generally resolved. Furthermore, bARR is based on estimates of future revenues under particular contracts, whereas ARR, whilst also
forward-looking, is based on historical revenues recognized in accordance with GAAP during the relevant period. A reconciliation of bARR
and ARR to a GAAP measure is not provided as there are no comparable GAAP measures and we believe that any attempt at such reconciliation
may be confusing to investors. bARR and ARR have limitations as analytical tools, and you should not consider them in isolation from,
or as a substitute for, analysis of our results as reported under GAAP. Some of these limitations are:
| ● | bARR & ARR should not be considered as predictors of future revenues
but only as indicators of the direction in which revenues may be trending. Actual revenue results in the future as determined in accordance
with GAAP may be significantly different to the amounts indicated as bARR or ARR at any time. |
| ● | bARR and ARR are to be considered “forward-looking statements”
and subject to the same risks, as other such statements (see note on “Forward-Looking Statements” above). |
authID INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
(Unaudited)
| | |
Three Months Ended | | |
Nine Months Ended | |
| | |
September 30, | | |
September 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| | |
| | |
| | |
| | |
| |
| Revenues | |
$ | 596,337 | | |
$ | 248,920 | | |
$ | 2,337,192 | | |
$ | 686,736 | |
| Discounts and concessions | |
| (702,483 | ) | |
| - | | |
| (702,483 | ) | |
| - | |
| Revenues, net | |
| (106,146 | ) | |
| 248,920 | | |
| 1,634,709 | | |
| 686,736 | |
| | |
| | | |
| | | |
| | | |
| | |
| Operating Expenses: | |
| | | |
| | | |
| | | |
| | |
| General and administrative | |
| 3,325,452 | | |
| 2,102,549 | | |
| 9,878,085 | | |
| 6,334,070 | |
| Research and development | |
| 1,785,387 | | |
| 1,615,970 | | |
| 5,762,921 | | |
| 4,213,041 | |
| Depreciation and amortization | |
| 16,034 | | |
| 43,798 | | |
| 76,475 | | |
| 131,210 | |
| Total operating expenses | |
| 5,126,873 | | |
| 3,762,317 | | |
| 15,717,481 | | |
| 10,678,321 | |
| | |
| | | |
| | | |
| | | |
| | |
| Loss from continuing operations | |
| (5,233,019 | ) | |
| (3,513,397 | ) | |
| (14,082,772 | ) | |
| (9,991,585 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Other Income (Expense): | |
| | | |
| | | |
| | | |
| | |
| Interest income | |
| 61,657 | | |
| 161,308 | | |
| 200,047 | | |
| 344,185 | |
| Interest expense, net | |
| (1,959 | ) | |
| (12,712 | ) | |
| (14,842 | ) | |
| (36,219 | ) |
| Other income (expense), net | |
| 59,698 | | |
| 148,596 | | |
| 185,205 | | |
| 307,966 | |
| | |
| | | |
| | | |
| | | |
| | |
| Loss from continuing operations before income taxes | |
| (5,173,321 | ) | |
| (3,364,801 | ) | |
| (13,897,567 | ) | |
| (9,683,619 | ) |
| Income tax expense | |
| - | | |
| - | | |
| - | | |
| - | |
| Net loss | |
$ | (5,173,321 | ) | |
$ | (3,364,801 | ) | |
$ | (13,897,567 | ) | |
$ | (9,683,619 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Net Loss Per Share - Basic and Diluted | |
$ | (0.38 | ) | |
$ | (0.31 | ) | |
$ | (1.11 | ) | |
$ | (0.97 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Weighted Average Shares Outstanding - Basic and Diluted: | |
| 13,443,740 | | |
| 10,920,872 | | |
| 12,538,275 | | |
| 9,961,110 | |
authID INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
| | |
September 30, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| | |
(unaudited) | | |
| |
| ASSETS | |
| | |
| |
| Current Assets: | |
| | |
| |
| Cash | |
$ | 4,899,658 | | |
$ | 8,471,561 | |
| Accounts receivable, net of allowance for credit losses of $49,000 and $0 respectively | |
| 191,338 | | |
| 97,897 | |
| Contract assets, net of allowance for credit losses of $0 and $0 respectively | |
| 101,349 | | |
| 426,859 | |
| Deferred contract costs | |
| 230,544 | | |
| 617,918 | |
| Other current assets, net | |
| 984,352 | | |
| 460,192 | |
| Total current assets | |
| 6,407,241 | | |
| 10,074,427 | |
| | |
| | | |
| | |
| Intangible Assets, net | |
| 138,943 | | |
| 213,718 | |
| Goodwill | |
| 4,183,232 | | |
| 4,183,232 | |
| Total assets | |
$ | 10,729,416 | | |
$ | 14,471,377 | |
| | |
| | | |
| | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |
| | | |
| | |
| Current Liabilities: | |
| | | |
| | |
| Accounts payable and accrued expenses | |
$ | 1,275,346 | | |
$ | 1,715,410 | |
| Commission liability | |
| 9,084 | | |
| 459,657 | |
| Severance liability | |
| - | | |
| 325,000 | |
| Convertible debt, net | |
| - | | |
| 240,884 | |
| Deferred revenue | |
| 531,580 | | |
| 215,237 | |
| Total current liabilities | |
| 1,816,010 | | |
| 2,956,188 | |
| | |
| | | |
| | |
| Total liabilities | |
$ | 1,816,010 | | |
$ | 2,956,188 | |
| | |
| | | |
| | |
| Commitments and Contingencies (Note 8) | |
| | | |
| | |
| | |
| | | |
| | |
| Stockholders’ Equity: | |
| | | |
| | |
| Common stock, $0.0001 par value, 150,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 13,443,740 and 10,920,909 shares issued and outstanding as of September 30, 2025 and December 31, 2024 | |
| 1,344 | | |
| 1,092 | |
| Additional paid-in capital | |
| 196,608,105 | | |
| 185,312,508 | |
| Accumulated deficit | |
| (187,706,096 | ) | |
| (173,808,529 | ) |
| Accumulated comprehensive income | |
| 10,053 | | |
| 10,118 | |
| Total stockholders’ equity | |
| 8,913,406 | | |
| 11,515,189 | |
| Total liabilities and stockholders’ equity | |
$ | 10,729,416 | | |
$ | 14,471,377 | |
authID INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| | |
Nine Months Ended | |
| | |
September 30, | |
| | |
2025 | | |
2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |
| | |
| |
| Net loss | |
$ | (13,897,567 | ) | |
$ | (9,683,619 | ) |
| Adjustments to reconcile net loss with cash flows from operations: | |
| | | |
| | |
| Stock-based compensation | |
| 2,625,522 | | |
| 2,044,210 | |
| Non-cash severance expense | |
| 206,000 | | |
| - | |
| Depreciation and amortization expense | |
| 76,475 | | |
| 131,210 | |
| Provision for expected credit losses | |
| 795,900 | | |
| - | |
| Credit losses write-off | |
| (896,620 | ) | |
| - | |
| Amortization of debt discounts and issuance costs | |
| 4,116 | | |
| 12,345 | |
| Changes in operating assets and liabilities: | |
| | | |
| | |
| Accounts receivable | |
| 7,279 | | |
| (132,329 | ) |
| Contract assets | |
| 325,510 | | |
| (201,610 | ) |
| Deferred contract costs | |
| 387,374 | | |
| 55,133 | |
| Other current assets | |
| (524,160 | ) | |
| (351,312 | ) |
| Accounts payable and accrued expenses | |
| (765,064 | ) | |
| (424,961 | ) |
| Commissions liability | |
| (450,573 | ) | |
| (124,150 | ) |
| Deferred revenue | |
| 316,343 | | |
| 197,715 | |
| Net cash flows from operating activities | |
| (11,789,465 | ) | |
| (8,477,368 | ) |
| | |
| | | |
| | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |
| | | |
| | |
| Purchase of intangible assets | |
| (1,700 | ) | |
| (17,582 | ) |
| Net cash flows from investing activities | |
| (1,700 | ) | |
| (17,582 | ) |
| | |
| | | |
| | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |
| | | |
| | |
| Proceeds from sale of common stock, net of offering costs | |
| 8,464,327 | | |
| 10,041,399 | |
| Repayment of convertible notes | |
| (245,000 | ) | |
| - | |
| Net cash flows from financing activities | |
| 8,219,327 | | |
| 10,041,399 | |
| | |
| | | |
| | |
| Effect of Foreign Currencies | |
| (65 | ) | |
| (5,156 | ) |
| | |
| | | |
| | |
| Net Change in Cash | |
| (3,571,903 | ) | |
| 1,541,293 | |
| Cash, Beginning of the Period | |
| 8,471,561 | | |
| 10,177,099 | |
| Cash, End of the Period | |
$ | 4,899,658 | | |
$ | 11,718,392 | |
| | |
| | | |
| | |
| Supplemental Disclosure of Cash Flow Information | |
| | | |
| | |
| Cash paid for interest | |
$ | 10,370 | | |
$ | 23,873 | |
| Warrants issued as offering costs | |
$ | 864,165 | | |
| 877,392 | |
| Cashless option and warrant exercises | |
$ | 438,000 | | |
$ | 79,556 | |
Exhibit 99.2
© 2025 authID Inc. All Rights Reserved. Ǫ3 2025 Results Conference Call Novenber 12, 2025 NASDA Ǫ : AUID
© 2025 authID Inc. All Rights Reserved. This Presentation and information provided at a webcast or meeting at which it is presented (the “Presentation") has been prepared on the basis of information furnished by the management of authID Inc . (“authID” or the “Company”) and has not been independently verified by any third party . This Presentation is provided for information purposes only . This Presentation is not an offer to sell nor a solicitation of an offer to buy any securities . While the Company is not aware of any inaccuracies, no warranty or representation is made by the Company or its employees and representatives as to the completeness or accuracy of the information contained herein . This Presentation also contains estimates and other statistical data made by independent parties and us relating to market size and other data about our industry . This data involves a number of assumptions and limitations, and you should not give undue weight to such data and estimates . Information contained in this Presentation or presented during this meeting includes “forward - looking statements . ” All statements other than statements of historical facts included herein, including, without limitation, those regarding the future results of operations, growth and sales, sales pipeline, potential contract signings, booked Annual Recurring Revenue (bARR) (and its components cARR and UAC), Annual Recurring Revenue (ARR), cash flow, cash position and financial position, business strategy, plans and objectives of management for future operations of both authID Inc . and its business partners, are forward - looking statements . Such forward - looking statements are based on a number of assumptions regarding authID’s present and future business strategies, and the environment in which authID expects to operate in the future, which assumptions may or may not be fulfilled in practice . Actual results may vary materially from the results anticipated by these forward - looking statements as a result of a variety of risk factors, including the Company’s ability to attract and retain customers ; successful implementation of the services to be provided under new customer contracts and their adoption by customers' users ; the Company’s ability to compete effectively ; changes in laws, regulations and practices ; the increase in international tariffs and uncertainty over international trading conditions, changes in domestic and international economic and political conditions, the impact of the wars in Ukraine and the Middle East, inflationary pressures, increases in interest rates, and others . See the Company’s Annual Report on Form 10 - K for the Fiscal Year ended December 31 , 2024 , filed at www . sec . gov and other documents filed with the SEC for other risk factors which investors should consider . These forward - looking statements speak only as to the date of this presentation and cannot be relied upon as a guide to future performance . authID expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward - looking statements contained in this presentation to reflect any changes in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based . This Presentation contains references to the Company’s and other entities’ trademarks . Such trademarks are the property of their respective owner . The Company does not intend its use or the display of other companies’ trade names or trademarks to imply a relationship with or endorsement of the Company by any other entity . By reading this Presentation or attending a webcast or meeting at which it is presented you accept and agree to these terms, disclaimers and limitations . Disclainer G Forward Looking Statenents - 2 -
© 2025 authID Inc. All Rights Reserved. CEO Renarks
Four Key Updates ▪ Topline Revenue ▪ Customer and Partners Successes ▪ Our Industry Leading Technology ▪ Top Priorities - 4 - © 2025 authID Inc. All Rights Reserved.
• Multi - national operations, based in Europe • Identity Verification for onboarding employees • Re - authentication for employees • Call Center, password reset, and account recovery for employees - 5 - © 2025 authID Inc. All Rights Reserved. Top 10 Global Supernarket Retailer NEC Networks G Systen Integration Corp Ǫ3 Contract Bookings Include Two Blue Chips • NESIC, a subsidiary of NEC ($21B global company) • Identity Verification for onboarding Employees • Re - authentication for employees • Call Center, password reset, and account recovery for employees The Pipeline Group, a Lead Generation Co. • Inc. 5000 fastest growing company 5 yrs in a row • Identity Verification for onboarding employees • Re - authentication for employees • Call Center, password reset, and account recovery for employees Banking Institution • Long standing International Bank • Identity Verification for onboarding employees • Re - authentication for employees • Call Center, password reset, and account recovery for employees
P r o s p e c t s Ra n k i n t h e T o p 1 0 L e a d e r s i n T h e i r I n d u s t r ie s - 6 - © 2025 authID Inc. All Rights Reserved. World’s Most Recognizable Brands ▪ Global leader in payroll and workforce management technology ▪ The largest global biometric hardware provider ▪ Global leader in digital payments ▪ Tier - one AI Chip Innovator ▪ Global and U.S. professional sports organizations ▪ One of the largest retail chains in the United Kingdom ▪ Major integrated U.S. healthcare network ▪ Global beauty and cosmetics retailer ▪ National specialty retail chain ▪ U.S. federal financial compliance and enforcement organization ▪ Leading global workforce solutions company ▪ Leading U.S. - based energy technology company ▪ Fortune 500 technology company specializing in secure digital access ▪ One of the Largest hospitality companies in the world ▪ Hospitality operator in the upscale and lifestyle hotel segment Fron“Not Y e t ” t o “Let’s Engage” Just a year ago, these organizations wouldn ’ t have considered authID. After our critical technology advancenents , they ’ re not only evaluating us — they’re actively engaged .
Enpowering Partner Success • Powering Prove ’ s Unified fraud platform with PrivacyKey ’ s 1:1Billion signal w/o storing biometric data • Migrating Prove customers from prior IDV vendor to authID ’ s Proof for instant PrivacyKey creation • Jointly shaping go - to - market strategy showcasing PrivacyKey ’ s differentiation • authID ’ s ID Verification and Privacy - Preserving Biometrics for NESIC ’ s Symphonict Trust Platform • authID ’ s IDX platform shares the global ADI standard with Symphonict Trust, enabling NESIC to expand beyond Japan • authID integrates NESIC ’ s technologies to deliver a comprehensive Agentic AI solution for NEC/NESIC • Co - developed and launched IDProof+, a High Assurance Identity Verification solution combining AuthID ’ s Proof with Microsoft Entra Verified ID for Verifiable Credential issuance • Partnership enables AuthID to serve as an Entra ID Verifiable Credential issuer and signer for MajorKey customers - 7 - © 2025 authID Inc. All Rights Reserved.
© 2025 authID Inc. All Rights Reserved. authID Innovation Timeline Innovating To Solve for Enterprise Adoption 2014 - 2023 2024 2025 The strongest foundation of trust for consumer/workforce enrollment C authentication Breakthrough in privacy — no biometric data stored, ensuring GDPR, CCPA, and BIPA compliance unlocking enterprise adoption Integrated prior innovations into an ADIA - conformant, enterprise - scalable solution delivering verifiable credentials for employees, contractors, and AI agents PrivacyKey AI Agents Employees Contractors AI + = TM TM - 8 -
authID Agentic AI Security Bringing Accountability to AI Agents ض ض AI Trusted Human Sponsor Federated Login PrivacyKey Signed Attestation + Public Key Custom Claim – JWT Access Token ض AI Agent with Human Sponsor Biometric Credential Agent Initialization Agent Operation AI AI AI AI AI Signals Credential Revocation AI Agentic Controls Authentication Human in the Loop PrivacyKey ! Immutable Audit Trail - 9 - © 2025 authID Inc. All Rights Reserved.
Positioned to Capitalize on the Market Shift to Bionetrics • More Fraudsters are born because of AI • Existing Fraudsters launch more attacks because of AI • Deepfakes increase difficulty of telling real from fake • AI Agents can easily go rogue and enable fraud THE PROBLEM • Companies are reacting by adding biometrics • Identity providers are acquiring biometric companies THE REACTION Our Mandate is to use our Best Technology to win as many deals as possible within our Best Customer engagements executed by the Best Team in place and that is how we increase shareholder value THE CATALYST - 10 - © 2025 authID Inc. All Rights Reserved.
© 2025 authID Inc. All Rights Reserved. CFO Renarks
2025 Ǫ3 GAAP Financial Results Gross Revenue Net Revenue Operating Expenses Net Loss Net Loss ($M) ($M) ($M) ($M) Per Share $1.11 $0.97 $0.38 $0.31 ‘ 24 ‘ 25 ‘ 24 ‘ 25 3 nonths G nonths 13.9M 9.7M 5.2M 3.4M ‘ 24 ‘ 25 ‘ 24 ‘ 25 3 nonths G nonths 15.7M 10.7M 5.1M 3.8M ‘ 24 ‘ 25 ‘ 24 ‘ 25 3 nonths G nonths 1.63M 0.69M 0.25M (0.11M) ‘ 24 ‘ 25 ‘ 24 ‘ 25 3 nonths G nonths 2.34M 0.69M 0.60M 0.25M ‘ 24 ‘ 25 ‘ 24 ‘ 25 3 nonths G nonths - 12 - © 2025 authID Inc. All Rights Reserved.
• RPO represents deferred revenue and non - cancelable contracted revenue over the life of the contract that has not yet been recognized. • Contracts are typically signed with a minimum 3 - year term. - 13 - © 2025 authID Inc. All Rights Reserved. Change Period Ending Ǫ4 2024 Ǫ3 2025 +$0.3M $0.2M $0.5M Deferred Revenue ($10.9M) $14.0M $3.1M Additional non - cancelable contracted revenue ($10.7M) $14.3M $3.6M Total Remaining Performance Obligation (RPO) 2025 Ǫ3 GAAP Financial Results Remaining Performance Obligation
2025 Ǫ3 Non - GAAP* Financial Results Q3 2024 Q3 2025 * See Q3 2025 Earnings Press Release for important information about Non - GAAP Measures **cARR = Committed Annual Recurring Revenue, Est. UAC = Estimated Usage Above Commitment Q2 2023 Q2 2024 3m o 9 mo bARR Booked Annual Recurring Revenue** ARR Annual Recurring Revenue Adjusted EBITDA Loss 9 months ended Sep 30 3 months ended Sep 30 2024 Est. UAC 2025 Est. UAC 2024 cARR 2025 cARR $2.35M $1.15M $1.88M $1.33M $0.54M $0.88M $0.19M $0.61M $0.08M $1.00M $1.02M $0.11M 2024 2025 2024 2025 1.7M 1.0M Q2 Q2 2024 2025 11.4M 7.8M 4.1M 2.9M ‘24 ’25 ‘24 '25 3 months 9 months - - 1 1 4 4 - - © 2025 authID Inc. All Rights Reserved.
Revenue Growth Stages Progressing through our growth stages to build a sustainable, recurring revenue stream - 15 - © 2025 authID Inc. All Rights Reserved. 2025 Q3 YTD Results 2024 Q3 YTD Results Measurement Stage $2.4M $1.9M Booked Annual Recurring Revenue (bARR) Secure new customer contracts with booked Annual Recurring Revenue Bookings 1 $3.6M $3.8M Remaining Performance Obligation (RPO) Establish contractual commitments from customers Financial Connitnents 2 $1.6M $0.7M GAAP Revenue • Implement new customers and recognize revenue • Ramp usage and exceed minimum commitments Revenue 3 2025 Focus Retention Rate Net Revenue Retention Retain customer contracts and expand relationships with upsells and cross - sells Retention and Expansion 4
ǪGA © 2025 authID Inc. All Rights Reserved.
